The United States Excludes Renewal of Iranian and Russian Oil Exemptions

The United States Excludes Renewal of Iranian and Russian Oil Purchase Exemptions

U.S. Treasury Secretary Scott Bisent confirmed that the United States does not intend to renew exemptions for purchasing Iranian oil, as well as Russian oil currently at sea, noting that renewing the exemption for Iranian oil is "completely out of the question."

He added that Washington's policy is moving towards tightening restrictions and not extending any additional exemptions in this matter.

Bisent: Iranian Oil Production Shutdown to Begin Soon with Expected Damages

In an interview with the Associated Press, Bisent stated that his country is imposing a blockade on Iran, stating: "There are no oil supplies coming out of there."

He continued that estimates indicate that within the next three days, "Iran will have to start shutting down production," explaining that this will have significant negative impacts on Iranian oil wells and facilities.

Tension in Global Energy Markets and Closure of the Strait of Hormuz

These statements come at a time when the world is experiencing cautious anticipation due to the repercussions of the escalation related to the U.S.-Israeli war in Iran, alongside severe disruptions in energy markets due to the closure of the Strait of Hormuz.

In this context, energy reports indicated forecasts from financial institutions like Goldman Sachs that oil production in the Gulf region may see a recovery in the coming months after the strait reopens.

Previous Exemption for Russian Oil in March Aimed at Stabilizing Markets

The report clarified that the United States had granted an exemption in March allowing sales of Russian oil and petroleum products at sea, aimed at calming global energy markets after oil prices exceeded $100 per barrel.

The goal of the measure at that time was to achieve relative stability in supplies and prices.

Debate Over the Reason for Extending Previous Exemptions for Russian Oil

Although the U.S. Treasury had renewed the exemption earlier after Bisent's statements about not extending it, the U.S. official excluded this time any similar renewal of exemptions for Russia and Iran.

He noted that previous exemptions came in an exceptional context related to the needs of some global markets.

Bisent's Explanation for Changing Position After International Meetings

In clarifying his change of position, Bisent stated that during meetings of the World Bank and the International Monetary Fund last week, he met with representatives from more than 10 poor and needy countries, where he was asked to help secure energy supplies.

He added: "The extension was for those weak and poor countries, but I cannot imagine that we will extend another one," noting that the Russian oil currently in the waters has been almost fully absorbed.